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HTB (HomeTrust Bancshares) Beneish M-Score : -2.31 (As of Mar. 02, 2025)


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What is HomeTrust Bancshares Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for HomeTrust Bancshares's Beneish M-Score or its related term are showing as below:

HTB' s Beneish M-Score Range Over the Past 10 Years
Min: -22.53   Med: -2.53   Max: 55.25
Current: -2.31

During the past 13 years, the highest Beneish M-Score of HomeTrust Bancshares was 55.25. The lowest was -22.53. And the median was -2.53.


HomeTrust Bancshares Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of HomeTrust Bancshares for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.0402+0.528 * 1+0.404 * 1.0006+0.892 * 1.0301+0.115 * 0.8564
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0077+4.679 * -0.001755-0.327 * 0.5862
=-2.31

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was $176.1 Mil.
Revenue was 50.356 + 50.279 + 50.05 + 50.419 = $201.1 Mil.
Gross Profit was 50.356 + 50.279 + 50.05 + 50.419 = $201.1 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $4,637.3 Mil.
Property, Plant and Equipment(Net PPE) was $69.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $18.0 Mil.
Selling, General, & Admin. Expense(SGA) was $71.6 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $270.1 Mil.
Net Income was 13.112 + 12.418 + 15.067 + 13.464 = $54.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 43.779 + 5.922 + -9.034 + 21.531 = $62.2 Mil.
Total Receivables was $164.3 Mil.
Revenue was 50.787 + 50.702 + 48.864 + 44.872 = $195.2 Mil.
Gross Profit was 50.787 + 50.702 + 48.864 + 44.872 = $195.2 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $4,652.0 Mil.
Property, Plant and Equipment(Net PPE) was $72.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $15.4 Mil.
Selling, General, & Admin. Expense(SGA) was $69.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $462.3 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(176.083 / 201.104) / (164.334 / 195.225)
=0.875582 / 0.841767
=1.0402

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(195.225 / 195.225) / (201.104 / 201.104)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 69.603) / 4637.293) / (1 - (0 + 72.463) / 4651.997)
=0.984991 / 0.984423
=1.0006

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=201.104 / 195.225
=1.0301

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(15.439 / (15.439 + 72.463)) / (17.958 / (17.958 + 69.603))
=0.175639 / 0.205091
=0.8564

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(71.582 / 201.104) / (68.955 / 195.225)
=0.355945 / 0.353208
=1.0077

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((270.109 + 0) / 4637.293) / ((462.258 + 0) / 4651.997)
=0.058247 / 0.099368
=0.5862

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(54.061 - 0 - 62.198) / 4637.293
=-0.001755

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

HomeTrust Bancshares has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.


HomeTrust Bancshares Beneish M-Score Related Terms

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HomeTrust Bancshares Business Description

Traded in Other Exchanges
N/A
Address
10 Woodfin Street, Asheville, NC, USA, 28801
HomeTrust Bancshares Inc operates as a bank holding company. It engaged in the business of planning, directing and coordinating the business activities of the Bank. The Bank is a North Carolina state chartered bank and provides a range of retail and commercial banking products.
Executives
Dwight L. Jacobs other: Advisory Director 550 S. TRYON STREET - DEC45A, CHARLOTTE NC 28117
Richard Tyrone Williams other: Advisory Director HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Jesse Cureton other: Advisory Director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Bonnie V Hancock other: Advisory Director P O BOX 12818, HOUSTON TX 77075
Lora Jex officer: EVP and Chief Risk Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Narasimhulu Neelagaru director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Robert E. James other: Advisory Director HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Laura C Kendall other: Advisory Director C/O CHARLES & COLVARD, 3800 GATEWAY BLVD #310, MORRISVILLE NC 27560
John Switzer other: Advisory Director BARINGS LLC, 300 SOUTH TRYON STREET, SUITE 2500, CHARLOTTE NC 28202
Sprink John Francis Ii officer: EVP C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Marty T. Caywood officer: EVP, Chief Information Officer HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Sidney A. Biesecker director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Hunter Westbrook officer: SVP, Chief Banking Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Craig C. Koontz director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Tony J. Vuncannon officer: SVP, Chief Financial Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801